Bad Credit? - Repair it here yourself!

There're many reasons you may want help for bad credit. We're here to help you understand what affects credit, what makes credit bad, how and what entities define your credit, guide you through the credit definitions, financial concepts, common misconceptions and provide you with information and tools that will help to solve your credit problems. Get help for bad credit now! To achieve this, we provide you with Free Access to a wealth of credit related content, forms, tools and calculators. We show you how to improve your bad credit step by step, reestablish your ability to borrow monies, how and where obtain loans, credit cards, mortgages and other financing. Repair Credit now!

Credit Suisse catches subprime virus

Tue Feb 19, 2008 12:02PM | By Tony

See more in Mortgage | Permalink | Email | Comments (0)

That is the story from Yahoo, but you have to understand that if a bank like Swiss Credit Suisse, which supposedly has one of the very best risk management teams in the banking industry, has to take such an unexpected hit, the others are in a much worse shape. Credit Suisse said it was taking a 2.07 billion Swiss franc or $1.88 billion write-down for subprime-related assets in that period, but still posted a net profit of 1.33 billion francs or $1.2 billion. Credit Suisse is the second largest Swiss bank and while that is not much of a loss, especially comparing with losses of USB, which wrote down 15.6 billion Swiss francs or $13.7 billion in mortgage-related investments last year and reported its first full-year loss, it does underline the depth and penetration of an overall mortgage mess, not just subprime.

Post a comment

Name:

Email:

URL:

Remember personal info?

Comments:

Please enter the code as seen in the image above to post your comment: